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Vice President Kamala Harris proposed increasing the long-term capital gains tax rate to 28% for wealthy Americans during an economic speech in New Hampshire on Wednesday, breaking with the policy ...
Vice President Kamala Harris announced that the long-term capital gains rate for the ultra-rich should be 28% — a move that marked a split with President Joe Biden.
Vice President Harris made a policy break from President Biden on Wednesday by calling for a lower tax increase on capital gains than what the president had proposed. Harris said during a campaign ...
Harris called for a 28% capital-gains tax rate for Americans who earn at least $1 million, lower than Biden's proposed 39.6% top rate on capital gains − the profits an investor makes from ...
From 1998 through 2017, tax law keyed the tax rate for long-term capital gains to the taxpayer's tax bracket for ordinary income, and set forth a lower rate for the capital gains. (Short-term capital gains have been taxed at the same rate as ordinary income for this entire period.) [ 16 ] This approach was dropped by the Tax Cuts and Jobs Act ...
Maximum long-term capital gains rates stood at around 25 percent after World War II, but rates began to rise following passage of the Tax Reform Act of 1969. The law, signed by Republican ...
The top marginal tax rate on long-term capital gains of 20%, provided for under the expiration of the 2003 portion of the Bush tax cuts, was retained. This was an increase from the 2003–2012 rate of 15%. [4]
Biden’s main proposal is to have long-term capital gains and qualified dividends of individuals with taxable income of over $1 million “be taxed at ordinary rates, with 37 percent generally ...